Government to convert GH¢5.8 billion cocoa debt owed to BoG and MoF

Government has announced plans to convert GH¢5.8 billion in legacy debt owed by the Ghana Cocoa Board (COCOBOD) to the Bank of Ghana and the Ministry of Finance as part of a broad reform agenda aimed at stabilising the cocoa sector.

The announcement was made by the Minister of Finance, Dr Cassiel Ato Forson, on February 13, 2026, during a press briefing outlining government’s reform agenda for the sector.

Speaking at the briefing, Dr Ato Forson said the proposed restructuring is intended to address long-standing financial pressures facing the cocoa regulator.

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“Government will seek parliamentary approval to restructure approximately GH¢5.8 billion in legacy debt owed by COCOBOD to the Bank of Ghana and the Ministry of Finance as part of measures to restore stability to the cocoa sector,” he said.

He added that the debt restructuring is expected to ease financial strain on COCOBOD, improve investor confidence, and create fiscal space for critical reforms within the sector.

“The debt conversion will restore positive equity and boost confidence in both the international and local markets to support the operations of COCOBOD,” he added.

He further noted that Cabinet has also directed the immediate transfer of GH¢4.35 billion in cocoa road liabilities from COCOBOD to the Ministry of Roads and Highways and the Ministry of Finance.

Government moves to convert GH¢5.8 billion cocoa debt owed to BoG and MoF



SP/MA